Lear (NYSE:LEA) Sets New 1-Year Low – Here’s What Happened

Shares of Lear Co. (NYSE:LEA) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $85.29 and last traded at $87.31, with a volume of 32270 shares. The stock had previously closed at $87.96.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Morgan Stanley cut their price target on Lear from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company upped their price target on Lear from $99.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lowered their price objective on shares of Lear from $147.00 to $143.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. UBS Group reduced their target price on shares of Lear from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Finally, Cowen lowered shares of Lear from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $123.36.

Lear Price Performance

The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $95.09 and a 200 day moving average of $98.04. The firm has a market cap of $4.70 billion, a P/E ratio of 9.79, a PEG ratio of 0.49 and a beta of 1.44.

Lear (NYSE:LEA) last posted its earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. On average, sell-side analysts anticipate that Lear Co. will post 12.89 earnings per share for the current year.

Lear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Thursday, March 6th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Thursday, March 6th. Lear’s payout ratio is presently 34.45%.

Insider Transactions at Lear

In other news, Director Rod Lache bought 2,178 shares of the stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $91.80 per share, for a total transaction of $199,940.40. Following the completion of the purchase, the director now owns 2,178 shares in the company, valued at approximately $199,940.40. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Lear by 187.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company’s stock worth $27,000 after buying an additional 187 shares in the last quarter. Addison Advisors LLC raised its stake in Lear by 68.2% in the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 137 shares in the last quarter. UMB Bank n.a. boosted its holdings in Lear by 233.3% in the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company’s stock valued at $39,000 after purchasing an additional 287 shares during the period. Brooklyn Investment Group grew its position in shares of Lear by 39.1% during the 4th quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company’s stock worth $40,000 after purchasing an additional 120 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Lear during the third quarter worth approximately $50,000. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.